Liability of RCM

Page no : 2

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 13 September 2017

No ITC of tax paid under RCM is available for composition dealer.

RAJA P M ("Do the Right Thing...!!!") (128010 Points)
Replied 13 September 2017

(No ITC of tax paid under RCM is available for composition dealer) What is this meaning Madam.,

Mubarak R momin (CMA) (145 Points)
Replied 13 September 2017

yes its true CMP dealer cant avail ITC weather he has paid gst to registered dealer or by way of RCM

Mubarak R momin (CMA) (145 Points)
Replied 13 September 2017

He has to pay straight away @ 1 or 2% whatever applicable on total supply irrespective of the GST paid to dealer or under RCM

1 Like

RAJA P M ("Do the Right Thing...!!!") (128010 Points)
Replied 13 September 2017

Yes. You are exactly correct.
I agreed to Mr. Mubarak R Momin....

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 13 September 2017

Even you pay tax at normal rate but no ITC is available for composition dealers. Means it is complee loss to you.

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